Wilmington, Delaware, United States, April 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global flexible, printed, and thin film batteries market stood at US$ 100.8 million in 2022 and the global market is projected to reach US$ 552.6 million in 2031. The global industry is anticipated to expand at a CAGR of 23.7% between 2023 and 2031.
Ongoing miniaturization of devices such as mobile phones, watches, and medical devices has led to a rise in demand for miniaturized components of electronic devices. Various compact electronic systems and devices are being developed across the world. As conventional batteries pose a challenge to reduction in the size of electronic devices, it had led to increase in demand for compact and lightweight, printed flexible batteries.
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Shrinking form factors of implanting wearable devices lead to the requirement of small batteries. require to be both thin and lightweight to be integrated with wearable devices lead to the requirement of small batteries. Implantable and wearable medical devices can move from the designing stage to the marketplace only if miniaturized batteries are used to power them. These batteries require to be both thin and lightweight.
Proprietary technologies used for manufacturing printed flexible batteries differ from one manufacturer to another based on the specifications of the manufacturers. These batteries are manufactured specifically for certain electronic devices, thereby resulting in compatibility issues if used with other devices. Thus, the absence of standards to be followed during the development of batteries acts as a restraint for the growth of the printed flexible battery market.
Wireless sensors are being adopted rapidly across the world owing to advancements in IoT and wireless sensor technologies. Energy harvesting technologies such as thin film and printed flexible batteries are rapidly emerging as viable power supply options for embedded systems, thereby leading to the use of wireless sensors in applications wherein that were not used previously. Therefore, micro batteries enable energy harvesting owing to their superior form factors, ultra-thin profile, and low leakage characteristics. The increasing adoption of energy harvesting-based autonomous wireless sensors is expected to act as a growth opportunity for the thin film and the printed battery market.
Key Takeaways of Market Report
- Global Flexible, Printed, and Thin Film Batteries Market to generate absolute dollar opportunity worth US$ 552.6 million until 2031.
- Global Flexible, Printed, and Thin Film Batteries Market from 2023 to 2031 is 23.7%
- Global Flexible, Printed, and Thin Film Batteries Market is currently valued at US$ 101 million in 2023.
- The market expanded at a CAGR of 22.8% from 2018 to 2022
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Global Flexible, Printed, and Thin Film Batteries Market: Growth Drivers
- Adoption of flexible batteries in electronic devices increases their portability and convenience, thus allowing users to carry and use their devices more easily. This particularly is important in the case of wearables and medical devices, where users require a power source that is small, light, and can be worn or implanted for extended periods.
- Increase of IoT devices as they are becoming increasingly popular in various industries like healthcare, manufacturing, etc where these devices require batteries that are small, lightweight, and flexible, and can easily fit into their compact designs.
Global Flexible, Printed, and Thin Film Batteries Market: Regional Landscape
- Europe is said to have a dominant value in this industry due to the rise in adoption of eco-friendly technologies and the presence of several leading players are driving the market progress where growth in demand for electric vehicles and an increase in focus on energy storage solutions are also augmenting.
- Asia Pacific is expected to witness substantial market expansion in the near future due to the increase in demand for consumer electronics and the rise in focus on renewable energy in the region.
Global Flexible, Printed, and Thin Film Batteries Market: Key Players
- Samsung SDI
Development
Samsung SDI secures new technologies and boosts technology competitiveness through steady investment in R&D. In addition, by expanding our business into the cutting-edge materials and parts business, Samsung SDI is now making a leap forward to the company specialized not just in the field of materials such as IT, Li-ion batteries and electronic materials, but also in the field of energy. We will do our best to secure global technical leadership, focusing on the future energy business together with materials technology.
- Panasonic Corporation
Strategies
Panasonic's vision for 2030 is to break away from low-margin businesses and position the company for future growth in higher-margin sectors. Despite the impact of the novel coronavirus pandemic, Panasonic continues to make progress toward this goal.
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Global Flexible, Printed, and Thin Film Batteries Market: Segmentation
Type
- Thin film batteries
- Printed batteries
Voltage
- Up to 1.5V
- 1.5V to 3V
- Above 3V
Capacity
- Up to 10 mAh
- 10 mAh to 100 mAh
- Above 100 mAh
Rechargeability
- Primary batteries
- Secondary batteries
Application
- Consumer electronics
- Smart Packaging
- Smart Cards
- Medical Devices
- Wireless sensors
- Wearable electronics
- Others
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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